Start My Answer

What Happens If You Don’t Pay Speedy Cash?

Sarah Edwards | October 24, 2022

Speedy Cash is good, right? Think again...

Summary: Speedy Cash is a payday lender that offers easily accessible, short-term financing with extremely high APRs. It's best to avoid loans with companies like Speedy Cash, but if you find yourself in financial trouble with this payday lender, use SoloSuit to represent yourself in court and increase your chances of winning.

Speedy Cash is a lending and check-cashing company that offers payday and title loans to individuals who need short-term financing.

Anyone can apply for a loan with Speedy Cash, as long as the company is authorized to do business in their state. You don’t need good credit to obtain a Speedy Cash loan, but you do need a regular job or collateral, such as a car.

Speedy Cash is notorious, even among payday lenders. For example, a $300 Speedy Cash payday loan with a 5.5-month repayment schedule has a 729.82% effective APR in Texas. To obtain a small loan of $300, you’ll repay the company $1,321.81 for its services.

Why is this number so high? While the interest rate is just 10%, Speedy Cash charges incredibly high fees.

If you’ve taken out a loan with Speedy Cash, you’re likely facing an uphill battle of large payments you can’t afford. Payday lenders like Speedy Cash take advantage of consumers who need money for unexpected expenses but don’t have another way to find the cash.

So what happens if you don’t repay Speedy Cash?

If you don’t repay Speedy Cash according to the payment schedule, it will quickly step up its collections activities. Depending on the type of loan you took out, the company may have access to your employment details or the rights to your vehicle's title.

People who apply for loans with Speedy Cash typically write a check when they take out a loan. If you don’t make a payment to Speedy Cash on the day it is due, the company will attempt to cash the check. You will likely incur bank fees if the check doesn’t go through.

The company will continue to try to withdraw the money from your account until you make your payment. Each unsuccessful attempt will result in more fees and may prevent other charges you’ve made from going through your bank account.

At the same time, Speedy Cash will begin harassing you for repayment. Collectors may call you at work, on your cell phone, and at home. They’ll send you letters in the mail. The communications won’t stop until you repay the loan or make other arrangements.

If you don’t respond to its efforts, Speedy Cash will likely sue you for the money you owe. Unlike credit card lenders, Speedy Cash won’t wait to do so. It will begin the lawsuit process quickly, typically within a few months of nonpayment.

Speedy Cash will use your signed payment agreement as evidence in its lawsuit. Unless someone else has stolen your identity, it will be difficult to win a case against the company, and it will likely obtain a judgment against you.

The judgment will allow Speedy Cash to garnish your wages or seize your property. If you took out a title loan and used your car as collateral, it can also be taken from you.

How do you get out of financial trouble with Speedy Cash?

It’s tough to find relief if you find yourself in a debt spiral. The best way to deal with companies like Speedy Cash is to not do business with them in the first place.

However, if you’ve already taken out a loan with the company, you’ll need to find the money to repay it. Cut down your expenses as much as possible—squeeze your budget like a sponge to find the money to repay the loan. Take a break from nights out on the town and pause monthly subscriptions like Netflix and Spotify.

If that doesn’t work, you can take on a side job, ask family members or close friends for help, or sell items you own but don’t need.

Suppose that you’ve lost your job, or you just don’t have enough money to go around. Despite your best efforts, you might not be able to find the money to repay Speedy Cash. In that case, try negotiating. Explain your situation and see if the company will hold off on collections until you get back on your feet.

Speedy Cash might agree to give you some leeway if you show you’re working toward repaying what you owe. Sometimes, Speedy Cash may modify your loan agreement so you can repay it over a longer period.

You can also attempt to settle the debt. However, you may not be able to obtain much savings from the debt settlement since Speedy Cash knows it can take you to court to get a full repayment. However, a compromise can keep you from a potential judgment on your credit report.

Can Speedy Cash threaten you with jail time?

It is illegal for any lender to threaten borrowers with jail time for not paying their loans. However, some payday lenders have successfully filed criminal cases against their customers for writing bad checks.

If Speedy Cash threatens you with jail, you can file a complaint with the Consumer Financial Protection Bureau. Include all supporting evidence of these threats. If the threat was verbal, note the employee's name and the Speedy Cash location in your complaint.

The Consumer Financial Protection Bureau will review your complaint and attempt to resolve it. The agency may pursue legal action against Speedy Cash on your behalf.

What should you do if you receive a court Summons from Speedy Cash?

If you are being sued by Speedy Case, you should respond to the court Summons as quickly as possible. It’s in your best interest to fight the case. However, you may be unlikely to win since the company will have a copy of your signed loan agreement and, potentially, a check from you authorizing it to withdraw funds from your account.

Use every resource you can to raise money to repay Speedy Cash before your court date. If you do, you can close your account and avoid a potential judgment.

If that doesn’t work, you can try to settle the debt before your court date. The company may accept a settlement if it believes you don’t have the means to repay the loan in full.

Start the debt settlement process by sending a Debt Lawsuit Settlement Letter to Speedy Cash. Learn more about the settlement process here:

Respond to a Speedy Cash lawsuit

When you get sued by Speedy Cash, there are several routes you can take depending on the status of the case. If you’ve received a Summons and Complaint in the mail, you should respond immediately with a written Answer so you don’t miss your state’s deadline.

If you never received the court papers and a default judgment was entered against you, try filing a Motion to Set Aside Judgment, along with an Answer, to give yourself a chance to fight back against the case.

You may be a victim of identity theft, and if so, you’ll have a strong case against Speedy Cash. If you can prove that you never authorized the loan agreement, you will most likely win your case.

Let’s consider an example.

Example: Maria receives a court Summons in the mail from Speedy Cash, claiming she owes $450 plus interest. Maria has never heard of Speedy Cash, and after some investigating, she finds out that her identity has been stolen. She uses SoloSuit to respond to the lawsuit. In her Answer document, Maria explains that she was a victim of identity theft with documentation to prove it. The court reviews both sides of the case and rules in Maria’s favor. Maria will still have to reach out to the credit reporting agencies and law enforcement to resolve the stolen identity issues, but at least she has some peace of mind knowing that Speedy Cash won’t be able to garnish her wages or take her property.


You can draft and file an Answer in all 50 states with SoloSuit.

Learn more about the possible routes a debt lawsuit can take in this flowchart:

Debt Collection Lawsuit Flowchart

What should you do if you need money quickly and don’t have good credit?

You might find yourself in the unfortunate position of needing money immediately without savings to rely on. Applying for a payday or title loan with a company like Speedy Cash can be tempting. But you should exhaust every possible option before doing this. Speedy Cash and other predatory lenders should be your very last resort.

Contact any creditors to explain your situation and alert them of the late payment. For instance, if you owe money to a credit card company, call them to tell them you’ll be repaying them late. They might work with you on a solution—but even if they don’t, a late mark on your credit report is much better than a loan with an APR of almost 730%.

If you’re facing eviction or foreclosure, seek help from family and friends. Take on an odd job. Sell things you don’t need. The chances are that you’ll be able to come up with the money you need.

If your credit is good enough, apply for a credit card or a bank loan. Interest rates on credit cards are not low, but they top out around 35%. You can use the money to meet your immediate needs without getting sucked into a financial mess with Speedy Cash.

What if I can’t get a handle on my financial problems?

Sometimes, no matter what you do, you can’t get on top of your financial issues. If this is the case for you, you might consider financial counseling or bankruptcy.

A credit counselor will work with you to understand where your money is going. They’ll advise you on the basics of borrowing money and help you set up a plan to manage your finances. Credit counseling benefits anyone who wants to learn more about personal finance and needs assistance getting on the right financial track.

If your debt is truly overwhelming, you should consider bankruptcy. A bankruptcy wipes all of your unsecured debt out and gives you a clean financial slate. You won’t need to worry about coming up with the money to make minimum payments to your creditors each month, as the court will discharge your debts.

However, bankruptcy comes with drawbacks. It stays on your credit report for seven to ten years and can significantly reduce your credit score. You will face years of difficulty in qualifying for credit cards, mortgages, and other loans.

What’s more, bankruptcy will not erase all types of debt. You will still be responsible for paying back most student loan debt and certain tax obligations. If you don’t qualify for a Chapter 7 bankruptcy, which eliminates debts, you may need to agree to a repayment plan through a Chapter 13 bankruptcy.

Payday loans aren’t a good solution to money problems

If you take away even one thing from this article, make sure it is this: Don’t take out high-interest debt like payday loans. Payday loan companies are notorious for taking advantage of people in financial trouble. Their victims can quickly get stuck in a debt trap that is impossible to escape.

Instead of taking out a short-term high-interest loan, take a close look at your finances and determine how you can get control of them. Work with a financial advisor if you need serious help.

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

Respond with SoloSuit

"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James


Get Started


We have answers.
Join our community of over 40,000 people.

You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now or are just looking for support, we're here for you.


Ask a Question


>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to answer a summons for debt collection in your state

Here's a list of guides for other states.

All 50 states.



Guides on how to beat every debt collector

Being sued by a different debt collector? Were making guides on how to beat each one.


Win against credit card companies

Is your credit card company suing you? Learn how you can beat each one.

Going to Court for Credit Card Debt — Key Tips

How to Negotiate Credit Card Debts

How to Settle a Credit Card Debt Lawsuit — Ultimate Guide

Get answers to these FAQs

Need more info on statutes of limitations? Read our 50-state guide.

Why do debt collectors block their phone numbers?

How long do debt collectors take to respond to debt validation letters?

What are the biggest debt collector companies in the US?

Is Zombie Debt Still a Problem in 2019?

SoloSuit FAQ

If a car is repossessed, do I still owe the debt?

Is Portfolio Recovery Associates Legit?

Is There a Judgment Against Me Without my Knowledge?

Should I File Bankruptcy Before or After a Judgment?

What is a default judgment?— What do I do?

Summoned to Court for Medical Bills — What Do I Do?

What Happens If Someone Sues You and You Have No Money?

What Happens If You Never Answer Debt Collectors?

What Happens When a Debt Is Sold to a Collection Agency

What is a Stipulated Judgment?

What is the Deadline for a Defendants Answer to Avoid a Default Judgment?

Can a Judgement Creditor Take my Car?

Can I Settle a Debt After Being Served?

Can I Stop Wage Garnishment?

Can You Appeal a Default Judgement?

Do I Need a Debt Collection Defense Attorney?

Do I Need a Payday Loans Lawyer?

Do student loans go away after 7 years? — Student Loan Debt Guide

Am I Responsible for My Spouses Medical Debt?

Should I Marry Someone With Debt?

Can a Debt Collector Leave a Voicemail?

How Does Debt Assignment Work?

What Happens If a Defendant Does Not Pay a Judgment?

How Does Debt Assignment Work?

Can You Serve Someone with a Collections Lawsuit at Their Work?

What Is a Warrant in Debt?

How Many Times Can a Judgment be Renewed in Oklahoma?

Can an Eviction Be Reversed?

Does Debt Consolidation Have Risks?

What Happens If You Avoid Getting Served Court Papers?

Does Student Debt Die With You?

Can Debt Collectors Call You at Work in Texas?

How Much Do You Have to Be in Debt to File for Chapter 7?

What Is the Statute of Limitations on Debt in Washington?

How Long Does a Judgment Last?

Can Private Disability Payments Be Garnished?

Can Debt Collectors Call From Local Numbers?

Does the Fair Credit Reporting Act Work in Florida?

The Truth: Should You Never Pay a Debt Collection Agency?

Should You Communicate with a Debt Collector in Writing or by Telephone?

Do I Need a Debt Negotiator?

What Happens After a Motion for Default Is Filed?

Can a Process Server Leave a Summons Taped to My Door?

Learn More With These Additional Resources:

Need help managing your finances? Check out these resources.

How to Make a Debt Validation Letter - The Ultimate Guide

How to Make a Motion to Compel Arbitration Without an Attorney

How to Stop Wage Garnishment — Everything You Need to Know

How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)

Defending Yourself in Court Against a Debt Collector

Tips on you can to file an FDCPA lawsuit against a debt collection agency

Advice on how to answer a summons for debt collection.

Effective strategies for how to get back on track after a debt lawsuit

New Hampshire Statute of Limitations on Debt

Sample Cease and Desist Letter Against Debt Collectors

The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah

West Virginia Statute of Limitations on Debt

What debt collectors cannot do — FDCPA explained

Defending Yourself in Court Against Debt Collector

How to Liquidate Debt

Arkansas Statute of Limitations on Debt

Youre Drowning in Debt — Heres How to Swim

Help! Im Being Sued by My Debt Collector

How to Make a Motion to Vacate Judgment

How to Answer Summons for Debt Collection in Vermont

North Dakota Statute of Limitations on Debt

ClearPoint Debt Management Review

Indiana Statute of Limitations on Debt

Oregon Eviction Laws - What They Say

CuraDebt Debt Settlement Review

How to Write a Re-Aging Debt Letter

How to Appear in Court by Phone

How to Use the Doctrine of Unclean Hands

Debt Consolidation in Eugene, Oregon

Summoned to Court for Medical Bills? What to Do Next

How to Make a Debt Settlement Agreement

Received a 3-Day Eviction Notice? Heres What to Do

How to Answer a Lawsuit for Debt Collection

Tips for Leaving the Country With Unpaid Credit Card Debt

Kansas Statute of Limitations on Debt Collection

How to File in Small Claims Court in Iowa

How to File a Civil Answer in Kings County Supreme Court

Roseland Associates Debt Consolidation Review

How to Stop a Garnishment

Debt Eraser Review

Do Debt Collectors Ever Give Up?

Can They Garnish Your Wages for Credit Card Debt?

How Often Do Credit Card Companies Sue for Non-Payment?

How Long Does a Judgement Last?

​​How Long Before a Creditor Can Garnish Wages?

How to Beat a Bill Collector in Court